Wells Fargo & Company Cuts Barings BDC (NYSE:BBDC) Price Target to $9.00

Barings BDC (NYSE:BBDC - Get Free Report) had its target price reduced by investment analysts at Wells Fargo & Company from $10.00 to $9.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 1.01% from the stock's current price.

Separately, Keefe, Bruyette & Woods reduced their price objective on Barings BDC from $10.50 to $9.50 and set a "market perform" rating for the company in a research note on Tuesday, April 8th.

Barings BDC Stock Up 0.6 %

Barings BDC stock traded up $0.05 during midday trading on Monday, hitting $8.91. The stock had a trading volume of 50,578 shares, compared to its average volume of 544,077. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average price of $9.33 and a 200 day moving average price of $9.65. Barings BDC has a 12 month low of $7.66 and a 12 month high of $10.85. The stock has a market cap of $939.19 million, a P/E ratio of 8.57 and a beta of 0.56.

Barings BDC (NYSE:BBDC - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.01). Barings BDC had a net margin of 38.54% and a return on equity of 10.94%. The firm had revenue of $70.63 million for the quarter, compared to analyst estimates of $69.35 million. Research analysts predict that Barings BDC will post 1.13 EPS for the current year.

Institutional Investors Weigh In On Barings BDC

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in shares of Barings BDC by 393.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,582 shares of the company's stock valued at $25,000 after purchasing an additional 2,059 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Barings BDC in the fourth quarter valued at approximately $25,000. Golden State Wealth Management LLC bought a new position in shares of Barings BDC during the first quarter worth $37,000. Ameriflex Group Inc. bought a new stake in shares of Barings BDC in the 4th quarter valued at $80,000. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Barings BDC by 276.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 10,144 shares of the company's stock worth $97,000 after purchasing an additional 7,448 shares during the period. 44.09% of the stock is currently owned by institutional investors.

Barings BDC Company Profile

Barings BDC, Inc is a publicly traded, externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. It seeks to invest primarily in senior secured loans, first lien debt, unitranche, second lien debt, subordinated debt, equity co-investments and senior secured private debt investments in private middle-market companies that operate across a wide range of industries.

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